Why I'm an AMEX cardholder for life (PAID $17K BENEFIT)

[Jlu]

Hey MyFico fam just wanted to share this amazing story and give a well deserved plug to AMEX, particularly their 'perk' programs, specifically the rental car coverage insurance program. 

About 2 years ago I got into an accident driving a rental car and I had waived the coverage offered by the rental car company and I don't have full coverage (re: collision & comprehensive) on my primary auto insurance policy so I knew worst case scenario it'd fall back on to AMEX Rental Car Loss & Damage Insurance program which is secondary insurance in the event you decline the rental car coverage at point-of-rental *and* you have no collision or comprehensive coverage on your primary auto insurance. 

Well the worst case scenario happened and I nearly totalled a brand new Subaru Outback they rented me and I was totally at fault. 

I was scared beyod belief hoping there wasn't some fine print that was going to leave me with a nearly $20K bill. It forever to get the required documents together for AMEX to process the claim and in the meantime the rental car company hired a lawyer to sue me in the event I did not pay.

Today I get a letter and an email saying not only is AMEX covering the FULL AMOUNT of damages but also settled the frivilous charges like storage, towing, loss of use, etc and at the end of the day I OWE ABSOLUTELY NOTHING! All said and done AMEX paid out $16,418.14 on my behalf. Needless to say AMEX has a customer for life!

Thought I'd share for those of you who always wondered whether the rental coverage insurance actually paid out for more than a ding or dent.

(Note: Original letter attached has been slightly modified to remove personal identifiers. Also waived is lingo for 'I owe nothing')

[thornback]

Wow that's great news! So glad everything worked out for you... whew! A huge sigh of relief, I'm sure. And yeah.. you kinda owe Amex ALL of your spend 😊!!

[Anonymous]

Sorry to hear about your accident, but congratulations on your settlement. It's good to know that it works out when you need it. I'm hoping CCC's aren't going to continue to cut that benefit because it's not used that much (who looks forward to using it), but its certainly necessary and very useful when it's really needed, as you can attest. Nothing like real world examples of what actually happens when it's used to its fullest. 

[FinStar]

Glad to hear AmEX was able to resolve in your favor.  IIRC, wasn't the previous incident you shared a while ago where you were found at fault? unless this is the same incident.   I'd be leery of renting you a car!

[Girlzilla88]

Wow Kudos to Amex and Congrats!

[wingennis]

I'm glad you weren't injured in your accident!

[AllZero]

Hope you're in good health. Congratulations on your success!

[Anonymous]

This is amazing!  So glad AMEX followed thorugh.

[OmarGB9]

That is amazing. And I hope you're okay.

[CreditInspired]

Whoa! This is some kind of miracle news. Thank you for sharing this amazing story! Glad you're ok and not stuck with some crazy debt. 

Well I love AmX and you can bet your you know what that I'll be using only AmX when I get a rental vehicle from now on. The proof is in the pudding. 

I'm blown away.